905-791-1100 For those who are self-employed and show low personal income to save on income tax by keeping money in your corporations, it is tough to qualify for a mortgage isn’t it? Luckily, Lotus Loans & Mortgages Corp. has access to A Lenders that will take your corporation’s income into consideration which will allow you to [...]
There has been an uptick in the need for private mortgage financing lately especially for new construction homes. When a new construction property is completed, the new homeowners are often required to close on the property with minimal final notice. Our office has seen deals where buyers are only receiving 2 weeks notice to arrange [...]
This past week in early November 2022 it was announced that Canada’s annual inflation rate held firm in October, likely keeping the BoC on track to press ahead with interest rate hikes. Remember that bank Prime is up to 5.95% today. The BoC meets on Dec 7th where they likely move Prime upwards by a [...]
Buying a home is one of the largest long-term financial commitments that you can make in your life. The mortgage approval process that comes with buying a home can make you feel like you have to jump through hoops to gain approval, however, it doesn't have to be like that if you are prepared before [...]
A lot of planning goes into buying a home, especially when it comes down to putting funds aside for things like your down payment and closing costs. Quite often, homebuyers can be caught by surprise when it comes to closing costs, so it's important that you ask your lender or broker what costs you will [...]
Most homebuyers will not have the funds to buy their home with cash, which means they will need to apply for a mortgage loan. To qualify for a mortgage, lenders will look at your credit score and history to assess your level of creditworthiness. A borrower’s income is also very important so what if your [...]
Many homebuyers look into purchasing a new build home when they are considering home buying options. This type of home purchase requires a specific type of mortgage known as a construction or new build mortgage. There are 2 types of construction mortgage options that you can choose from, each with its own benefits that we [...]
Working as a Mississauga mortgage broker requires a lot of useful tools to help clients find the best mortgage packages for their needs. One of those tools is a mortgage calculator. You can find a few different types of mortgage calculators that will look at different things for you, such as mortgage options and what [...]
As a Mississauga mortgage broker, I pride myself on my ability to find the best mortgage options for my clients. After all, my job is to look out for the best interests. It's one of the main characteristics you should look for when shopping around for a mortgage broker, and not all are the same. [...]
Working as a mortgage broker in Mississauga, Canada, I get asked a lot of questions about mortgages. Taking out a mortgage is probably the largest investment that you can make in your life. It can also be a confusing process for some, especially if you are a first time home buyer. Today I'm sharing the [...]
